EQ Resources Limited Annual Report 2024

Thanks to the superior sorting performance, the XRT Sorting Plant now processes 100% of the stream that was previously discarded, contributing an additional 26% of material to the downstream Gravity Plant. Furthermore, a stockpile of over 343,000 tonnes of previously discarded >6mm ore is ready for reprocessing, containing an estimated 19,894 mtu. BEFORE Run of Mine (Tungsten Ore) Run of Mine (Tungsten Ore) AFTER Discarded material (Process waste stockpile <0.06% WO3) Stockpile of discarded material (Historical process waste stockpile <0.06% WO3) Discarded material, permanently lost process waste XRT Sorting: Ability to process all run of mine material, as well as valorize historical process waste stockpile Crushing & Screening Circuit Gravity Plant XRT Sorting Plant >6mm ore >6mm ore WO3 Concentrate Crushing & Screening Circuit Gravity Plant >6mm ore >6mm ore WO3 Concentrate See ASX Announcement 15th February 2024: ‘Saloro XRT Sorting Performance Update’. Other work included feed optimisation at the jaw crushing and ROM feeding pad, which led to a remarkable 30% increase in primary crusher throughput. Trials adjusting the Ore Sorter feed from 20/8mm to 40/8mm sizing resulted in a substantial 40% increase in mtus, driven primarily by higher throughput rates achievable with larger rock sizing. However, the corresponding changes to the Ore Sorter circuit were deferred to the second half of the calendar year to allow further downstream optimisation. Q4 FY2024 (April to June 2024): The fourth quarter of FY2024 focused on refining the processing plant’s performance and enhancing recovery rates. As part of the ongoing recovery improvement program, the jig distribution system was replaced with a more advanced distributor featuring nine outlets, allowing for more uniform and independent feeding of each jig chamber. The alumina balls have been changed to a different density, and the deck has had its hole diameter changed from 7.7 mm to 8.5mm. The spiral circuit was upgraded with new coarse and fine hydrocyclones, achieving 85% efficiency in size classification. The decommissioning of the hydrosizer and adding a clarometer relieved the thickener, further improving circuit efficiency. EQ Resources Limited Annual Report 2024 59

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